Within the program for private sector support in Azerbaijan, the mission of the Asian Development Bank (ADB) in the leasing sphere headed by William Wilms started consultations with the leasing companies of the country. The visit takes a familiarization character and on base of the meetings with the leasing companies, the bank will define the directions of the future cooperation within this project, Trend reports quoting the ADB Baku Office.
Besides companies and banks involved in the leasing activities, meetings have been
fixed in the Association of Leasing Companies of Azerbaijan (ALC) and the Ministry of Econo0mic Development.
According to the information provided by the same association, ALC is going to act with several proposals, including creation of Fund for Leasing Company Support through the contribution of ADB and other projects related to the investment activity.
The budget allocated to the private sector equals $15 mln. The project was approved by the Board of Directors of ADB has approved the project in March 2006. To date, credit lines have been opened through two commercial banks Azerigazbank and Bank Respublika - $4 mln for each one.